Tuesday

Mar 21, 2017 at 12:01 AMMar 21, 2017 at 1:49 PM

If money is power, then Palm Beach is home to plenty of powerful people, including its most influential part-time resident, President Donald Trump.

But when judged solely by his net worth, Trump’s isn’t nearly as powerful as some of his Palm Beach neighbors — or as many of the 2,042 other billionaires worldwide who joined him in Forbes’ 31st annual ranking of the richest people on the planet, released today and based on estimates made on Feb. 17.

> PHOTOS: Palm Beach residents on Forbes' 2017 billionaires list

Forbes estimates the president’s net worth at $3.5 billion, down from $4.5 billion a year ago. That ties him in 544th place with five other U.S. billionaires on the latest global list. Trump made the list even though he has announced he has separated his personal finances from his business empire by shifting assets and turning control of his companies over to his children. A year ago, Forbes tied Trump in 324th place with seven other billionaires.

>> DONALD TRUMP IN PALM BEACH: Latest news, photos, videos

Seasonal Palm Beacher and industrialist David Koch, 76, is in eighth place with a net worth of $48.3 billion on the 2017 Forbes list of the world’s wealthiest people.

Daily News Staff Writer

Energy magnate David Koch is in his customary spot at the top of the list the billionaires who are known to have strong ties to Palm Beach, either by owning property or frequently leasing a residence here. Forbes’ magazine and its website put Koch’s net worth at $48.3 billion, up from $39.6 billion last year.

Koch this year is ranked No. 8 of the world’s richest people, moving from the ninth spot last year. He once again is tied with his brother Charles Koch, 82, with whom he runs Koch Industries. Charles Koch owns no property in Palm Beach.

David Koch’s twin brother, William "Bill" Koch, who has a home in Palm Beach and whose wealth also is tied to the energy industry, always ranks much lower than his brothers on the list. He is tied in the 1,567th spot with an estimated net worth is $1.3 billion, which dropped from $1.9 billion last year.

Once again leading the overall list of the world’s wealthiest people is Microsoft founder Bill Gates of Medina, Wash., whose net worth is estimated at $86 billion, up from $75 billion last year. Gates has headed the list for 18 of the last 23 years.

The total number of billionaires — the most ever, as recorded by Forbes — rose 13 percent over the 1,810 who made the list last year. The list has grown by 233 billionaires since last year.

The Palm Beachers are among 565 U.S. billionaires on the list. Many locals also are on the Forbes 400 list of the nation’s billionaires released each fall.

In addition to the president and Bill Koch, a few other Palm Beachers saw their personal assets shrink, including real estate mogul Stephen Ross of Related Companies, whose net worth fell from $12 billion last year to $7.4 billion this year, according to the list. Investor and newly confirmed U.S. Secretary of Commerce Wilbur Ross Jr. also saw a decrease, from $2.9 billion to $2.5 billion. And so did Dmitry Rybolovlev, the Russian businessman who is selling off the Palm Beach estate he bought from Trump in 2008 for a recorded $95 million. Rybolovlev’s net worth dropped from $7.7 billion last year to $7.3 billion this year, according to Forbes.

But the majority of the Palm Beachers on the latest list enjoyed a boost to their assets. Among those who saw their net worth rise significantly were those who make their money via investing — not surprising, given Wall Street’s record-setting performance of late. Discount brokerage entrepreneur Thomas Peterffy, for instance, saw his net worth jump from $11.1 billion last year to $13.8 billion on the latest list. Likewise, investor Stephen Schwarzman’s net worth got a boost from $9.5 billion to $11.8 billion, while investor George Lindemann saw his assets jump by $1 billion, to $3.4 billion.

One notable Palm Beach name is missing from this year’s list. Jack Taylor, founder of Enterprise Rent-a-Car, died last July at 94. In 2016, he was ranked in 248th place, with an estimated net worth of $5.3 billion.

Palm Beach families represented on the list include members of the Lauder clan. Leonard and Ronald Lauder, whose mother was the late Estee Lauder, founder of the cosmetics empire, have side-by-side Midtown homes on the ocean. Their children – Aerin Lauder Linterhofer, Jane Lauder and William P. Lauder – also are involved in the beauty industry and all made the list.

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The Palm Beach Forbes List

Here’s are Palm Beach billionaires ranked by Forbes’ among the world’s richest people — some with primary homes here, some seasonal residents or frequent visitors and still others who simply own property on the island.

Note: Forbes based the list on data collected on Feb. 17, 2017, and updates the list in real time, based on factors contributing to the billionaires’ net worth. As a result, the list provides a single-snapshot of the billionaires’ wealth. See the complete list at Forbes.com.

Did we overlook a Palm Beach billionaire on the Forbes list? Email dhofheinz@pbdailynews.com.